CPI down 0.1% in Jan, housing prices resume rise

Israeli housing Photo: Tamar Matsafi

Inflation was 1.2% in the past 12 months, while despite the recent rise housing prices fell 1.4% in 2018, Israel's Central Bureau of Statistics reports.

The Consumer Price Index (CPI) fell 0.1% in January, the Central Bureau of Statistics reported this afternoon, less than the analysts' predictions of -0.3% to -0.4%. The CPI has risen 1.2% in the past 12 months, towards the lower end of the Bank of Israel's annual target range for inflation of between 1% and 3%. This was the third successive month that the CPI has been in negative territory, largely due to the fall in oil prices on world markets.

January is also traditionally a month of negative inflation for seasonal reasons and notable price falls included clothing and footwear, which fell 7%. However the price of fresh fruit and vegetables rose 3.5% and housing maintenance rose 1%.

The Central Bureau of Statistics also published the Housing Price Index today for- November-Dedember 2018. The Index showed the price of the average deal rising 0.2% in November-December compared with October-November. Housing prices fell 1.4% in 2018 and have fallen 2.3% since their peak in August-September 2017.

Published by Globes, Israel business news - en.globes.co.il - on February 15, 2019

© Copyright of Globes Publisher Itonut (1983) Ltd. 2019

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Israeli housing Photo: Tamar Matsafi
Israeli housing Photo: Tamar Matsafi
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